ESG disclosure and emerging trends in responsible investments: how asymmetric information may impact stability again

Environmental and social sustainability together with sound governance have increasingly attracted interest from consumers and investors, paving the way for the so called ESG finance. ESG criteria seem to reshape the way companies, investors and consumers behave. While laudable, the acceleration of ESG finance may raise concerns relating to the robustness underpinning this new set of financial products, as well as the reliability of ESG-related in formation released by companies to design their public profile. A new breed of ESG ratings and rankings is enriching the metrics used by investors and consumers to make informed financial and investment decisions. Nevertheless, such ratings and rankings depend on the individual disclosure strategies adopted by companies. The scope of this article is to complement available data about individual emissions declared by companies with their ESG disclosure level, particularly focusing on the Environment. This leads the authors to build a new metric, deputed to reduce asymmetric information hopefully, and to favour responsible investment. Starting from ESG related information publicly available, a new disclosure adjusted pollution index (namely the “GHG Scope-1 DAdj index”) is built. The empirical analysis performed in the second part of the contribution, based on this new index, suggests that the rush to ESG finance may possibly be generating leeway for new forms of asymmetries and potential distortions in investment decisions as well as providing ground for speculative approaches in financial product development that heighten concerns and new risks for investors. A handful of companies from our sample become less obvious choices for responsible investors once their environmental record is assessed through the GHG Scope-1 DAdj index

Financial Innovation and Technology after COVID-19: a few Directions for Policy Makers and Regulators in the View of Old and New Disruptors

Innovation and technology have led to the redefinition of business models and development of new ones in many bricks and mortar sectors.  Similarly, blockchain and fintech have impacted the finance and banking industries and are expected to further affect them in the future, leading some media to coin the expression “Uberization of banking”.  The authors extrapolate from sharing economy models to conclude that while blockchain and fintech are poised to advance finance and banking, there are no disruptive features that corroborate the term.  By analogy and successive approximations, this article identifies the limitations of the arguments for disruption in finance and banking.  Besides, hinging upon stylized facts, the article establishes similarities with sharing economy models to identify potential threats stemming from financial innovations such as Tokenomics, tagged as “no-ABSs”.  Eventually, the authors identify entry points and ways forward arising from the COVID-19 pandemic for policy makers and regulators to regain their pivotal role in policing the market and ensuring transparency while driving innovation

LA MODULAZIONE DEI LIVELLI DI GLUTATIONE COME STRATEGIA DI ATTACCO NELLE INTERAZIONI OSPITE-PARASSITA

Insect studies, dealing with parasitism of aphids, have shown that the disruption of host glutathione (GSH) pool and metabolisms significantly contributes to its physiological regulation and castration. The parasitic wasp Aphidius ervi injects into host aphids a venom containing large amounts of a gamma-glutamyltransferase (Ae-GGT) enzyme, which causes a depletion of GSH primarily involving ovarian tissue. Injected Ae-GGT in fact consumes substrate GSH, which ultimately triggers apoptosis. Studies on virulence factors of microrganisms have documented that the invasion strategies of selected pathogenic bacteria also target host GSH metabolism. Indeed, it has been shown that GGT activity of Helicobacter pylori and H. suis, the agents responsible of peptic ulcer, can exert antiproliferative and pro-apoptotic effects in gastric epithelial cells. By confocal microscopy, H. suis outer membrane vesicles (OMV) 12 submicroscopic structures 20-50 nm in diameter, budding from the cell surface 12 were identified as carriers of H. suis GGT, capable of delivering the enzyme to the deeper mucosal layers. In association with such membranous structures, active GGT from H. suis in fact translocates across the epithelial layers and can access lymphocytes residing in the gastric mucosa, resulting in the inhibition of lymphocyte proliferation, i.e., a perturbation of host immunity and a facilitation of bacterial infection. Cellular GSH appears, thus, to represent a conserved target for parasitic (micro)organisms which aim at altering host redox homeostasis to weaken its immune defenses, using GGT as a key-element of a virulence strategy. Taking into account the \u201cparasitic\u201d behavior exhibited by malignant cells spreading across tissues and organs of the patient (the \u201chost\u201d). GGT activity is in fact expressed in a number of malignant tumors, and expression levels often increase along with progression to more invasive phenotypes. Now, active GGT can be released from cells, including cancer cells, in association with submicroscopic vesicles resembling exosomes. The similarity of such structures with GGT-rich OMV particles of H. pylori and H. suis is indeed obvious. GGT activity of cancer cells can affect intracellular redox equilibrium, and produces in addition significant extracellular effects, e.g. on the redox status and ligand binding affinity of cell surface receptors related with cell survival/apoptosis balance. Thus, GGT-rich exosomes shed by cancer cells can produce in host\u2019s surrounding tissues effects comparable to those reported for Ae-GGT or Helicobacter GGT, possibly resulting in facilitation of malignant cells survival and diffusion

Antitumoral effects of pharmacological ascorbate on gastric cancer cells: GLUT1 expression may not tell the whole story

The recently reported results of Lu et al. (Theranostics. 2018; 8: 1312-26) – highlighting GLUT1 expression as a marker for sensitivity of gastric cancer cells to therapeutic doses of ascorbate – are discussed in the light of additional factors potentially affecting the underlying processes, such as the concomitant expression of membrane gamma-glutamyltransferase activity, the resistance of cancer cells to oxidative injury and other known biomarkers

Effects of brassinosteroids on photosynthetic performance and nitrogen metabolism in pepper seedlings under chilling stress

To investigate the effects of brassinosteroids on plant growth and nitrogen metabolism in pepper seedlings under chilling stress, pepper seedlings with three true leaves were foliar pretreated with 0.1 μM exogenous 24-epibrassinolide (EBR) before carrying out chilling stress for 7 days. The results showed that perapplication of EBR mitigated the chill-induced decrease in plant growth via maintenance of a high net photosynthetic rate (Anet), maximum quantum efficiency (Fv/Fm), and photochemical quenching coefficient (qP). Exogenous EBR markedly increased the levels of partial free amino acids (proline, arginine, aspartic acid, and glycine) and promoted nitrogen metabolism through increasing the activities of nitrate reductase (NR), glutamine synthase (GS), glutamate synthase (GOGAT), and glutamate dehydrogenase (GDH) in the leaves of pepper seedlings under chilling stress. The effect of exogenous EBR on the content of reactive oxygen species was also investigated. Pretreatment with EBR reduced the accumulation of hydrogen peroxide (H2O2) and superoxide anion (O2−·), and concomitantly alleviated membrane lipid peroxidation of pepper leaves under chilling stress. These results suggest that foliar pretreatment of EBR has a positive effect on improving the chilling tolerance of pepper seedlings via maintaining a high photosynthetic capability and enhancing the nitrogen metabolism

Sirtuine, restrizione calorica ed invecchiamento: importanza della stimolazione di SIRT1 in relazione ai suoi rapporti di reciproca inibizione con la proteina mTOR

Introduzione. Le Sirtuine (SIRTs) hanno guadagnato nel tempo una notevole attenzione in campo medico grazie al loro ruolo di sensori metabolici e di mediatori della sopravvivenza cellulare in condizioni di stress, quali ad esempio la restrizione calorica (RC) e l’esercizio fisico, nelle quali la loro trascrizione risulta attivata. Negli Eucarioti la famiglia delle Sirtuine è formata da sette proteine (SIRT1,2,3,4,5,6 e 7), tra queste quella su cui si sono concentrati la maggior parte degli studi è la SIRT1. Dalla prima pubblicazione che descrisse SIRT 1 come promotore del lifespan, molti studi si sono focalizzati sulla relazione tra Sirtuine, RC ed invecchiamento. Infatti, per spiegare i meccanismi biologici dell’invecchiamento fisiologico e ottenere una maggiore aspettativa di vita sono state formulate numerose ipotesi e sono stati condotti numerosi studi in diversi organismi, dai batteri all’uomo. Tra i diversi approcci di ricerca e interventi anti-aging, la riduzione del’intake calorico rimane la via più accreditata. Studi in numerose specie (lieviti, elminti, mammiferi) hanno mostrato che la RC può ridurre l’incidenza e rallentare l’insorgenza di patologie legate all’età (malattie cardiovascolari e neurodegenerative), migliorare la resistenza allo stress, decelerare il declino funzionale ed aumentare il lifespan. Inoltre, la restrizione calorica promuoverebbe la sopravvivenza cellulare mediante induzione di SIRT1, che a sua volta sarebbe in grado di deacetilare proteine citoplasmatiche e nucleari che controllano processi quali l’apoptosi ed il metabolismo cellulare. A questo proposito, negli ultimi anni molti studi hanno evidenziato l’importanza in questo contesto di mTOR, una serina/treonina chinasi che sembra promuovere l’invecchiamento in molti organismi animali, agendo in modo inibitorio rispetto a SIRT1. Scopo. L’importante ruolo che SIRT1 assume nell’invecchiamento è legato, oltre a quanto appena visto, soprattutto alla sua azione inibitoria su mTOR. Ciò è di notevole importanza, soprattutto se si considera che la disregolazione del segnale mTORC1 altera il metabolismo corporeo ed è causa di affezioni età correlate, invecchiamento per inibizione dell’autofagia (processo necessario al prolungamento della vita che tende a ridursi con il procedere dell’età) e affezioni tumorali in cui la proteina è iperegolata. Lo scopo della presente tesi sperimentale è quello di andare a verificare se resveratrolo, berberina, quercetina, catechina e malvidina, determinano, oltre ad una attivazione di SIRT1, anche una inibizione di mTOR. Materiali e metodi. Sono state utilizzate cellule Hela, cellule tumorali isolate da un cancro della cervice uterina. Le cellule sono state trattate con: 1) Resveratrolo (5;10 µM), 2) Berberina (5;10 µM), 3) Quercetina (10; 25 µM), 4) Catechina (5;10 µM), 5) Malvidina (10;20 µM). I tempi di esposizione sono stati di 3 e 6 ore. Dopo il trattamento le cellule sono state lisate e l’espressione di SIRT1 e di mTOR è stata valutata mediante Western Blot. Risultati. Inizialmente le cellule sono state trattate con le diverse sostanze, alle diverse concentrazioni (indicate tra parentesi) per un tempo di incubazione di 3 ore. È stato possibile evidenziare, tramite l'analisi con Western Blot, un aumento statisticamente significativo dell'attività di SIRT1 (p<0,0001). Ripetendo gli esperimenti con le medesime sostanze alle stesse concentrazioni e variando solamente il tempo di incubazione (6 ore), è stato possibile evidenziare, anche in queste condizioni, un incremento statisticamente significativo dell'espressione di SIRT1. I dati in letteratura mettono in evidenza che SIRT1 esercita una azione inibitoria sulla proteina mTOR. A questo proposito ci aspettiamo che le sostanze testate, potenziando l’attivazione di SIRT1, abbiano anch’esse un’azione inibitoria su mTOR. Conclusioni. I dati analizzati evidenziano che le sostanze testate sono in grado di attivare SIRT1, determinando così un rallentamento dell’invecchiamento e un aumento del lifespan. In conclusione, queste sostanze potrebbero assumere un ruolo importante nell’insorgenza di tutte quelle patologie correlate all’età, portando così all’ottenimento di benefici per la salute simili a quelli forniti dalla restrizione calorica

Possible role of membrane gamma-glutamyltransferase activity in the facilitation of transferrin-dependent and -independent iron uptake by cancer cells.

BACKGROUND: The molecular mechanisms by which iron is physiologically transported trough the cellular membranes are still only partially understood. Several studies indicate that a reduction step of ferric iron to ferrous is necessary, both in the case of transferrin-mediated and transferrin-independent iron uptake. Recent studies from our laboratory described gamma-glutamyltransferase activity (GGT) as a factor capable to effect iron reduction in the cell microenvironment. GGT is located on the outer aspect of plasma membrane of most cell types, and is often expressed at high levels in malignant tumors and their metastases. The present study was aimed at verifying the possibility that GGT-mediated iron reduction may participate in the process of cellular iron uptake. RESULTS: Four distinct human tumor cell lines, exhibiting different levels of GGT activity, were studied. The uptake of transferrin-bound iron was investigated by using (55)Fe-loaded transferrin, as well as by monitoring fluorimetrically the intracellular iron levels in calcein-preloaded cells. Transferrin-independent iron uptake was investigated using (55)Fe complexed by nitrilotriacetic acid ((55)Fe-NTA complex). The stimulation of GGT activity, by administration to cells of the substrates glutathione and glycyl-glycine, was generally reflected in a facilitation of transferrin-bound iron uptake. The extent of such facilitation was correlated with the intrinsic levels of the enzyme present in each cell line. Accordingly, inhibition of GGT activity by means of two independent inhibitors, acivicin and serine/boric acid complex, resulted in a decreased uptake of transferrin-bound iron. With Fe-NTA complex, the inhibitory effect – but not the stimulatory one – was also observed. CONCLUSION: It is concluded that membrane GGT can represent a facilitating factor in iron uptake by GGT-expressing cancer cells, thus providing them with a selective growth advantage over clones that do not possess the enzyme

Helicobacter, gamma-glutamyltransferase and cancer: further intriguing connections

Virulence of Helicobacter pylori , H. Suis and other bacteria appears to be partly mediated through a release of gamma-glutamyltransferase (GGT), an enzyme activity capable of promoting biochemical reactions ultimately resulting in damage to gastric epithelium and suppression of immune response. Recently published studies show that secretion of bacterial GGT occurs in the form of exosome-like vescicles. Very similar GGT-rich exosomes have been described to originate from human cancer cells, and the hypothesis is thus forwarded that in the resistant and invasive phenotype of malignant cells such vescicular/exosomal GGT may play roles akin to those described for Helicobacter infection, thus providing a significant contribution to the establishment of cancer metastases